Stocks of auto component maker JBM Auto today plunged nearly 13 per cent after the company reported 15.23 per cent decline in net profit for the fourth quarter ended March 31.
The stock ended the day with a sharp loss of 12.57 per cent at Rs 207.30 on the BSE. During the day, it dipped 13.15 per cent to Rs 205.90.
At the NSE, the scrip tanked 12.61 per cent to settle at Rs 207.55.
Following the sharp decline in the share price, the company's market value fell by Rs 121.31 crore to Rs 845.69 crore.
JBM Auto yesterday reported 15.23 per cent decline in net profit at Rs 17.58 crore for the fourth quarter ended March 31. It had posted a net profit of Rs 20.74 crore during the same period of previous fiscal.
Net sales of the company declined to Rs 375.16 crore for the fourth quarter as compared to Rs 377.20 crore during the same period of previous fiscal.
For the year ended March 31, the company posted a net profit of Rs 76.41 crore as compared to Rs 50.21 crore during the 2013-14 fiscal.
JBM Auto manufactures chassis and suspension systems, exhaust systems, welded assemblies, tools and dies.
Meanwhile, in the broader market, the BSE benchmark Sensex ended 41.77 points down at 27,645.53.
